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Hunt reinforces return to ‘orthodoxy’ with Economic Advisory Council

Jeremy Hunt has established a new Economic Advisory Council in a little noticed element of the new chancellor’s fiscal plan that swept away most of the unfunded tax cuts from last month’s “mini” Budget.

Consisting of former officials who now work in finance, the council members were chosen for their expertise and knowledge of markets, according to allies of the chancellor.

The idea for the group was hatched over the weekend and was the brainchild of Rupert Harrison, former chancellor George Osborne’s chief economic adviser who now works as a portfolio manager at BlackRock.

“Rupert Harrison in particular has enormous experience of running the Treasury under George Osborne over many years, and I think that he will make an important contribution, as will his colleagues on the council,” said Hunt when he announced the formation of the group.

The other members are: Sushil Wadhwani, a former member of the Bank of…

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